According to Smith, Casey, 57, has agreed in principle to a three-extension with the team that will keep him in Toronto through 2017. His deal had been set to expire this offseason. Terms of his new deal are not immediately known.

The team had decided not to pick up the option on former head coach Jay Triano's contract in 2011, subsequently appointing Casey to the position. The Raptors finished this past regular season with a 48-34 record, on top of the Atlantic Division for the first time since 2007.

Raptors have agreement in principle with Dwane Casey on a three-year deal, according to sources